Bitcoin wallet and exchange Blockchain.com has announced that it will enable margin trading.
Users had requested Bitcoin margin trading regularly
In a blog post published on Tuesday, Blockchain.com explained that users have regularly requested Bitcoin margin trading since the exchange service launched in 2019. According to the announcement, the platform will introduce margin trading for the Bitcoin-United States dollar pair with leverage of up to 5x. However, according to Tuesday’s announcement, only Gold-verified users with complete identity verification will access the margin trading feature.
The Bitcoin margin trading service will be available to users in about 150 countries, with significant exceptions for Italy, France, Canada, and the United States. Other exceptions include Japan, Germany, Austria, the United Kingdom, and the Netherlands.
Blockchain.com wants to go public
In August, the platform surpassed the $1 trillion mark in crypto transactions and announced plans to go public by 2023. Blockchain.com’s IPO plans are part of an emerging trend of exchanges and other crypto companies seeking a public listing, following Coinbase’s lead. Companies like Kraken and Circle are also considering IPOs.
The wallet and exchange platform raised multiple rounds of funding earlier this year, reaching a valuation of $5.2 billion in March. Blockchain.com reportedly used the capital to expand its institutional business. In June,